Federal Government Increase Prices Of Electricity Meter

According to NERC, the price review takes effect from Monday, November 15, 2021.

By
Oluwaseun Akingbe
-
Federal Government Increase Prices Of Electricity Meter
Federal Government Increase Prices Of Electricity Meter

The federal government of Nigeria has increased the cost of both single-phase and three-phase electricity meters, effective November 15, 2021.

The development is contained in a circular dated November 11, 2021 by the Nigerian Electricity Regulatory Commission (NERC) and addressed to managing directors, all electricity distribution companies and all meter asset providers.

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According to the circular, with reference number NERC/REG/MAP/GEN/751/2, the price of a single-phase meter has increased from the current cost of N44,896.17 to N58,661.69.

It also increased the price of a three-phase meter from the current cost of N82,855.19 to a revised rate of N109,684.36.

According to NERC, the price review takes effect from Monday, November 15, 2021.

The circular reads; “In arriving at the approved unit price, the Commission had, in particular, only considered changes in foreign exchange and inflation since the last review of June 2020,” the circular reads.

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“This price review is subject to change upon the conclusion of the procurement process under phase 1 of the National Mass Metering Program. This price review is effective from 15th November 2021.”

The regulator also noted that all costs are exclusive of value-added tax (VAT).

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gate io
gate io
1 year ago

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